Detroit Lakes, MN & San Diego, Calif. – July 25, 2011 – Fallbrook Technologies, Inc. (Fallbrook), developer and manufacturer of NuVinci continuously variable planetary (CVP) transmissions that are designed to increase battery life and performance of electric vehicles, and well-known manufacturer of electric vehicles (EVs), Tomberlin Group (Tomberlin), along with TEAM Industries (TEAM), a leading designer and manufacturer of drivelines, announced today the acceleration of their joint development activities.

In January, 2011, Fallbrook announced a partnership with TEAM Industries to develop electric vehicle transmission prototypes. The first initiative under that joint effort was with Tomberlin and their new Anvil™ electric city car. Subsequently, Fallbrook, TEAM and Tomberlin have expanded the focus of their cooperative efforts and will explore the application of Fallbrook's NuVinci technology to additional Tomberlin product lines.

According to William G. Klehm III, Chairman and CEO of Fallbrook Technologies, Fallbrook, TEAM and Tomberlin now believe market growth and the benefits of Fallbrook's NuVinci CVP technology make it appropriate to expedite their schedule of integrating NuVinci technology into Tomberlin’s Anvil™ while also evaluating similar initiatives with other Tomberlin product lines.

“The demand for electric vehicles with improved range and capabilities is growing very rapidly, compelling us to speed up our development timeline to meet the rise in projected interest,” said Klehm, “We’ve engaged in additional strategic discussions with our valued partners, Tomberlin and TEAM, to make this a reality in the near term.”

“The drive toward electrification of transportation will require a number of technically innovative components and systems” said Tony Passanante, Senior Director of Marketing and Strategic Planning for TEAM Industries. “Our work with Fallbrook will reshape the electrification of powertrains and will deliver performance enhancing benefits that riders and the market are demanding.”

“Together, we’re in a terrific position to make eco-friendly transportation exciting and feasible for the global market,” said Mike Tomberlin, a member of Tomberlin’s leadership team. “Our partnership with Fallbrook and TEAM will give our fleet added operating performance advantages such as improved hill climbing ability, acceleration capabilities and towing capacity in addition to other rider benefits. The concept is catching on at a great pace, and we’re laying the foundation to meet this demand!”

Fallbrook Technologies has demonstrated that its technology can extend the capabilities of certain light electric vehicles. Unlike conventional gear and clutch transmissions, the NuVinci CVP uses a set of rotating and tilting balls positioned between the input and output components of the transmission that adjust to vary the speed of the transmission. Tilting the balls changes their contact diameters and varies the speed ratio. As a result, the NuVinci CVP offers a seamless and continuous transition to any ratio within its range in a compact, easy to manufacture and cost effective package that improves system performance.

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About TEAM Industries

TEAM Industries is a vertically- integrated engineering and manufacturing company that has been Driving Innovation in performance and reliability-enhancing components for nearly half a century. TEAM offers a complete range of services, from collaboration on new product designs to custom contract manufacturing. Our principal products include transmissions and transaxles, axles and four-wheel-drive systems, continuously variable transmissions (CVTs), and electric vehicle drivetrains.

From concept to completion, TEAM takes a personal interest in your success. So, whatever your engineering and/or manufacturing needs – a new or improved driveline solution; manufacturing services such as turning, milling, CNC machining, precision gear or spline manufacturing; or in-house aluminum die casting – you can count on TEAM to meet or exceed your expectations.